Seamount Financial Group Inc. Sells 25 Shares of ServiceNow, Inc. $NOW

Seamount Financial Group Inc. lessened its position in shares of ServiceNow, Inc. (NYSE:NOW) by 6.2% in the second quarter, according to its most recent filing with the SEC. The firm owned 381 shares of the information technology services provider’s stock after selling 25 shares during the quarter. Seamount Financial Group Inc.’s holdings in ServiceNow were worth $392,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NOW. Haverford Trust Co lifted its holdings in ServiceNow by 0.9% in the first quarter. Haverford Trust Co now owns 1,176 shares of the information technology services provider’s stock valued at $936,000 after buying an additional 10 shares during the period. Ascent Group LLC raised its position in shares of ServiceNow by 0.5% in the 1st quarter. Ascent Group LLC now owns 2,045 shares of the information technology services provider’s stock worth $1,628,000 after acquiring an additional 10 shares in the last quarter. Edgemoor Investment Advisors Inc. lifted its stake in shares of ServiceNow by 2.5% in the 1st quarter. Edgemoor Investment Advisors Inc. now owns 459 shares of the information technology services provider’s stock valued at $366,000 after purchasing an additional 11 shares during the period. Integrated Investment Consultants LLC lifted its stake in shares of ServiceNow by 2.5% in the 1st quarter. Integrated Investment Consultants LLC now owns 450 shares of the information technology services provider’s stock valued at $358,000 after purchasing an additional 11 shares during the period. Finally, one8zero8 LLC boosted its position in shares of ServiceNow by 3.2% during the 1st quarter. one8zero8 LLC now owns 356 shares of the information technology services provider’s stock valued at $283,000 after purchasing an additional 11 shares in the last quarter. Institutional investors and hedge funds own 87.18% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on NOW shares. Needham & Company LLC lifted their target price on ServiceNow from $1,050.00 to $1,200.00 and gave the stock a “buy” rating in a report on Thursday, July 24th. Barclays set a $1,210.00 price objective on shares of ServiceNow in a research report on Thursday, July 24th. Raymond James Financial boosted their target price on shares of ServiceNow from $1,000.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Thursday, July 24th. Oppenheimer reissued an “outperform” rating and set a $1,150.00 target price (up from $1,100.00) on shares of ServiceNow in a research note on Thursday, July 24th. Finally, FBN Securities upgraded shares of ServiceNow to a “strong-buy” rating in a report on Wednesday, June 11th. One research analyst has rated the stock with a Strong Buy rating, thirty have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,122.20.

ServiceNow Stock Up 0.1%

Shares of NYSE NOW opened at $913.27 on Tuesday. The company has a debt-to-equity ratio of 0.14, a current ratio of 1.09 and a quick ratio of 1.09. The company has a 50-day moving average price of $913.22 and a 200-day moving average price of $931.27. The stock has a market capitalization of $189.96 billion, a P/E ratio of 115.02, a P/E/G ratio of 4.11 and a beta of 0.92. ServiceNow, Inc. has a 1 year low of $678.66 and a 1 year high of $1,198.09.

ServiceNow (NYSE:NOW) last posted its earnings results on Wednesday, July 23rd. The information technology services provider reported $4.09 earnings per share for the quarter, topping analysts’ consensus estimates of $3.57 by $0.52. The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.12 billion. ServiceNow had a net margin of 13.78% and a return on equity of 18.04%. The firm’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.13 EPS. On average, equities research analysts forecast that ServiceNow, Inc. will post 8.93 EPS for the current fiscal year.

Insider Transactions at ServiceNow

In other news, General Counsel Russell S. Elmer sold 1,698 shares of the firm’s stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $884.26, for a total value of $1,501,473.48. Following the transaction, the general counsel owned 4,332 shares in the company, valued at $3,830,614.32. This trade represents a 28.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Anita M. Sands sold 1,097 shares of the company’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $915.11, for a total value of $1,003,875.67. Following the sale, the director owned 9,307 shares of the company’s stock, valued at $8,516,928.77. This trade represents a 10.54% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,737 shares of company stock valued at $16,798,825. Corporate insiders own 0.38% of the company’s stock.

ServiceNow Profile

ServiceNow, Inc provides end to-end intelligent workflow automation platform solutions for digital businesses in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company operates the Now platform for end-to-end digital transformation, artificial intelligence, machine learning, robotic process automation, process mining, performance analytics, and collaboration and development tools.